SBV revises License of BIDC – Hanoi city branch

Accordingly, the SBV Governor approved the revision of Clause 1 Article 5 of the License for establishing a foreign bank branch No. 88/GP-NHNN dated April 22nd, 2011 granted to Bank for Investment and Development of Cambodia (BIDC) - Hanoi city branch as follow: “Bank for Investment and Development of Cambodia - Hanoi city branch is allowed to carry out activities in accordance with the laws and SBV regulations, including the following activities:"

Revising the content “Buying, selling foreign exchanges and trading gold in accordance with SBV regulations” stated in Point d Clause 1 Article 5 of the License for establishing a foreign bank branch No. 88/GP-NHNN dated April 22nd, 2011 granted to Bank for Investment and Development of Cambodia (BIDC) - Hanoi city branch into “trading gold in accordance with SBV regulations”.

Amending Clause 2 Article 5 of License for establishing a foreign bank branch No. 88/GP-NHNN dated April 22nd, 2011 granted to Bank for Investment and Development of Cambodia (BIDC) - Hanoi city branch is allowed to trade and provide foreign exchange services in the domestic and international market within the scope stipulated by the SBV.”

BIDC - Hanoi city branch is responsible for: (i) Providing the mentioned-above services in compliance with applicable laws and other relevant regulations; (ii) Implementing procedures in line with Item 3 of Article 18b of Circular No.40/2011/TT-NHNN dated December 15th, 2011 on granting license to commercial banks, foreign bank branches and representative offices of foreign credit institutions and other foreign credit institutions with banking operations in Vietnam (as revised by Circular No.08/2015/TT-NHNN dated June 30th, 2015).

This Decision took effect from the date of signing and is an integral part of License for establishing a foreign bank branch No. 88/GP-NHNN dated April 22nd, 2011 granted to Bank for Investment and Development of Cambodia (BIDC) - Hanoi city branch.

VA